Printed from http://www.electronista.com

Lenovo sells off mobile phone business

updated 12:05 pm EDT, Fri April 4, 2008

lenovo sells cell business

The Lenovo Group sold its handset unit on March 31, the company announced on Thursday. The sale, valued at $100 million in January, was approved by Lenovo's shareholders on March 17. In January, executives decided that the world's fourth-largest PC manufacturer should focus on its core business. The buyer is believed to be an unnamed group of investors.

Lenovo has never sold phones in North America, instead focusing on its desktop and notebook computer business here. In China, the primary market, the company made $108 million on cell phone sales, representing just 2.4 percent of its total 2007 sales. In the first quarter of 2008, cell phone sales fell by nearly a third. [via Yahoo]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Seagate Wireless

It seems like no matter how much internal storage is included today's mobile devices, we, as users, will always find a way to fill the ...

Lenovo Yoga Tablet 2 (Android, 10.1-inch)

Lenovo is building a bigger name for itself year after year, including its devices expanding beyond desktop computers. The company's l ...

Brother HL-L8250CDN Color Laser Printer

When it comes to selecting a printer, the process is not exactly something most people put a lot of thought into. Printers are often t ...

Advertisement

toggle

Most Commented

 
toggle

Popular News